tv [untitled] July 14, 2011 10:01pm-10:31pm EDT
he will say that he saved the newspaper industry but now it's clear that success came with a heavy price tag morality murdoch's journalist kept to ratings high by violating and exploiting the vulnerable they hacked the private voice mails of families of dead soldiers and of murdered children assigned flee we've seen criminality and invasion of privacy on a staggering industrial scale not even the rich and powerful could escape then chancellor gordon brown's baby was splashed over the front page of the sun his illness a sick headline royal family phones were hacked the scandal even goes right to the heart of the police force senior police officers were bribed by journalists for tipoffs on sensitive investigations private lives were made public we've got. to be some hacking into gordon brown's private life you have to so you have to start wonder what else is in of course the heart of it is not just. what we call blanket
these are people. information what should be private sources like medical records tax records it's taken thirty years for the worst fears about the british press to come true but come true they have murdoch may own successful newspapers in an ailing market but their papers which have lost their greatest asset the public's trust the u.k. has more c.c.t.v. cameras per person than anywhere else in the world i've counted eight just in this small car park so britain's always know big brother is watching but the question now is what's big brother watching for and more importantly who's trying to bribe him lower and it r.t. . the eurozone debt crisis now focuses on italy where the senate has approved tough new austerity measures the package is to receive a fine. approval in the country's
a lower house on friday it comes amid concerns that italy the euro zone's third largest economy may become the next to ask for help and and it follows that both ireland and portugal have a very reading's downgraded to junk status dealing a serious blow to the bailout ridden euro block which struggles to prop up its weakest economy writer and editor patrick young says that italy's public will perhaps protest budget cuts at least as fervently as the greeks. there will be one significant difference between the people who take to the streets between greece and italy and that is that in greece at least thank goodness the taxi drivers don't go on strike where is nuclei expected almost everybody is going to end up on strike and it's going to be absolutely chaotic the only way they can slip this through is perhaps because we do have this long lead in time until the cuts really start to make an impact in two thousand and thirteen but i think the problem is in the meantime a large amount of the sort of the leftist opposition in italy for see the fact that
silvio berlusconi due to many of the reasons most of which are outside of the direct fiscal reason are well i mean he's a wounded animal at this point in time and in some ways i think that he's going to be finding it very difficult to hold his government together and this is really a crisis because i mean greece is only what two and a half percent of the entire eurozone economy something like but it will get a serious heavy hitter as everybody who's ever bought a designer italian brand or an italian car or another is retired in engineering knows and it's ultimately going to be hugely difficult this is a fundamental debt crisis across the whole euro zone and in fact what's incredible is we have an italian mario draghi who's going to be the next head of the european central bank he's coming into office at the moment and he himself knows the sold them seat of sovereign states is no longer to be taken for granted in other words at this point in time any possible shock could take place the difficulty is but all of the large economies along side most of the small ones have all the road too much money. there are big problems in western europe the havens to be are definitely to
the east everyone not so fortunately expect further surprises because the epidemic the contagion seems to be spreading and we have new political leadership seeming to do with. credit agencies are threatening to review america's triple a credit score for a downgrade that's for the first time in over ten years they say there is a risk of the u.s. could fail to resolve the deadlock in its budget negotiations max wolf who's a senior analyst at greengrass capital says that the current situation has a long become a political norm in the u.s. . america's been running on debt for years this is a disaster in the making and i would liken this situation here to a cancerous tumor inside a body there's no better time to cut the cancerous tumor out as quickly as you possibly can that said the u.s. government has been running on debt for many many years and we've been raising the budget the total debt ceiling for many many years as a budget issue and we've successfully had deals struck it has become the political
norm in the united states that whatever party is in the white house has to ask to raise the debt ceiling it's always been raised in the past the party that's not in the white house that's out of power screams and yells for three or four days at most usually about how the government spending too much and should live within its means the debt ceiling demand gets raised and it's business as usual that's been the case for thirty years the american people of course like every people given any choice anywhere in the world always say they don't want to spend more taxes and they also don't want to see spending get that said i think the american people will probably ultimately as they usually do have a much more realistic approach to this than some of their elected leadership so we have one side in the congress right now that's the cited no increase in revenue is acceptable other side has decided that not raising revenue is unacceptable and so we've reached an embarrassing impasse that has dragged on for weeks longer than it should and is the reason that we're going to see the growing chorus of foreign and
domestic voices urging congress and the white house to stop riling already strained global markets with a political impasse meanwhile scott carter from a u.s. based gold investment company told r.t. earlier that if the united states does default in august many might turn their backs on the dollar and to look for other alternatives. clearly the debt ceiling will be raised i think you're right it is political posturing and everyone on each side of the trying to extract the best deal that they can but if we were to play the worst case scenario and we were to not raise the debt ceiling and then default or some sort of nonpayment of bills it shakes or rattles the confidence in the world that the u.s. market and the government of the u.s. is committed to its obligations long term we have nobody that can bail us out so we have to be steadfast and true in our ability to pay our bills rattling the confidence in the world that somehow we would not pay interest payments or not pay
social security checks would at minimum demand a higher return on the treasuries that we sell but at worst case would cause individuals and institutions to move away from treasuries and diversify their portfolio i think there are many people who feel that way that somehow we need a basket of currencies hard assets that limit the money printing and this is really the issue how do we constrain governments to not just print money at will and habitat tethered to some sort of hard asset historically it's been gold whether gold is the right solution or not i think the key issue is to say let's cut the spending let's live within our means if a gold standard or some other hard asset as a standard does that then i think that that's why it's gaining traction gold is the ultimate plumb line it will tell you all of the market will tell you through gold what they feel about the long term view of paper currencies and the story is not very good right now. and
a little later in the program we've got more on the eurozone crisis on cross-talk here's a little taste of what's to come. but let greece go bankrupt it would be good for greece it would be good for the europe would be good for the world if greece went bankrupt and run out of the house to pay their bills or stop a lie then you would have everybody would know it's a strong sound currency based on a strong sound economy i'll tell you why because of the four hundred billion dollars of debt that greece has fifty percent is held by german and french banks and those countries don't want to take a second in the financial markets it's that simple good morning everyone who already has a letter saying i have all the way i want it why should we why should taxpayers bail out banks since when the taxpayers have to mail out mistakes made by banks.
heavy lifting equipment has arrived at the scene of last sunday's pleasure cruise or sinking on the river volga authorities plan to begin raising the fifty five year old vessel next week amid fears the ship could break up because of its poor condition meanwhile divers are continuing to retrieve bodies from the sunken ship the death toll now stands at one hundred thirteen on thursday russia's prime minister putin visited and paid tribute to the rescue operation and said that those negligence and greed led to the disaster must be punished archies tom barton reports on how the investigation is proceeding. so arrests have been made and this is starting to move beyond just a disaster recovery operation for two people that have been arrested so far. she is the owner of the company that rented double daria for what would be its final voyage also yakov. he is
a state expert on shipping and some time before that voyage he said that the area was fit to sail and so perhaps was negligent in that decision divers are still working in teams in our in our out in a on a platform out in the river over the sunken bulgaria it's now estimated there are around a dozen bodies left to be recovered divers have explored most of the ship now there might be some places left where bodies could be but it is possible that some of those bodies may know may not be in the ship they may be in the water around the ship and in a worst case scenario currents may have carried some of the bodies up to two hundred kilometers downstream there's also been revelations added to the case of the of the ball garia and was particularly concerning to ships just after the sinking but passed by and didn't pick a single person up there's been massive public fury over this and that space
has recently been perhaps somewhat tempered by the views of some experts saying that actually these two ships that arrived with people in the water and in the oil slick around them they weren't passenger ships they were barges and it would have actually been very difficult for them to pick people up and they may have actually hindered the third ship the arabella which came in did start to pick people up we earlier spoke to the captain in exclusive interview the captain of the arabella saying what he found when his ship arrived at the scene of the disaster. it happened really fast five to ten minutes after we heard the distress call as we approached it was hard to distinguish in the dark water people who were alive from the rubble that was floating around and people were in panic when we rescued them were going to state of shock with some suffering from other traumas they were all covered in oil fuel that was leaking from the sunken ship it was a terrifying picture i have to say. captain of the arabella also. added his own
views to those of those two other captains he was in the vicinity as they were and he gave his own views on the public fury and the experts saying well maybe it was they didn't do such an awful thing let's hear what he had to say about that. because we were approaching the position of the tragedy it was almost at the same time as every cargo ship and i don't know why he didn't stop it maybe he tried to do that but the inertia of heavy cargo wouldn't let him but as we approached the side its presence could only hamper the rescue work ration asked him to proceed and not waste time so this very mixed feelings now about the role of these two ships the rescue operation will shortly if they can recover the rest of these bodies be moving into its next phase and that is for two ships specially equipped to try and raise the sunken bowl garia and then it will be known hopefully in a proper investigation can start as to why this ship sank and sank so fast causing so much tragedy. we've got more on our website including footage of
the recovery operation still underway in the volga river you can log onto our t v dot com for the firsthand account. a wave of criticism is gathering momentum in israel over a new bill that outlaws the boycott of israel and jewish settlements on occupied palestinian territory opposition parties have called the law an attempt by a week into government to silence the people one peace movement has petitioned to the supreme court against the bill prime minister netanyahu faced a stormy session on the knesset on wednesday where he was himself forced to defend the law some members walked out in protest the legislation imposes fines on boycott organizers and allows settlers to sue them for compensation omar barghouti from the boycott divestment and sanctions movement in ramallah says the bill will only make the pro palestinian action stronger. pittsboro has never been
a democracy and can never be a democracy so long as it's an apartheid state so long as it has tens of flaws discriminating between its jewish and non jewish citizens so long as it denies millions of palestinian refugees the right to return home and so long as it continues with its occupation of the west bank including his troops as well as gaza so a country committing such violations of international law for basic human rights cannot call itself a democracy professor illan properly the israeli historian maybe had to try to when he said israel is that heaven for which is a democracy only for the master class not for everyone and if anything israel is going it's really pushing fast forward in digging the grave of its occupation and apartheid as long as palestinian rights are not respected by israel as long as the occupation continues apartheid continues then i look refugee rights continues palestinians have no choice but to continue to resist to continue to struggle now
a brief look at a couple of other international headlines for you authorities in mexico say they have discovered a huge marijuana plantation in the baja california desert the discovery the biggest ever was made by soldiers on patrol two hundred fifty kilometers south of the border with america the fields covers one hundred twenty years and are supplied with water by an advanced irrigation system last year investigators found a tunnel running from mexico to the u.s. along with forty tons of marijuana it was shredded with lighting and ventilation and a railway to transport the drugs. victims of the three coordinated bombings in mumbai are being laid to rest at least seventeen were killed when blasts struck three downtown locations during the evening rush hour police say the attacks were well prepared and equipped with sophisticated explosive devices investigators admit they no immediate. but say that all terror groups are being
considered. a suicide bomber has attacked the memorial service for the assassinated half brother of afghan president hamid karzai at least four people are reported killed in the blast that rocked the mosque including a top cleric a day earlier two explosions shook the city of kandahar during the funeral ceremony of. the leaders a brother was shot twice by his family friend and longtime head of security on tuesday. egypt's ousted president hosni mubarak has reportedly told interrogators that he did not order the crackdown on protesters during february's uprising after the country's ruling military council announced it will fire hundreds of police officers implicated in the killing of almost a thousand demonstrators meanwhile protests carry on for the seventh day running in tahrir square the epicenter of the original authorising that ousted the former president. as hacking attacks go global many are looking for new ways to make
thank you very much for being with us today so i was just wondering. you know someone who is directly personally in crime. all. far from these people the keeper of a good distance. to work in result of police departments and different cultures so nor do the bad guys. and police are also from news well who are the people when you think about it are those just. well organized criminal society are all in the past there were just there are cyber windles are
which made. and they are old why doses just for fun just to prove themselves. criminals serve each other even by perfect they develop now where all the dark. home computers or enterprises to still be information or to have their hands on this is to use there are these sort of capital networks and the unfortunate where the big profit from that. and to be honest. and well and there are another group. of people who are behind all this at the x. we call them activists people who are the different motivation it's not money it's not profit most of them they do it's like a protest just like that group that was revealed in the cases against wiki leaks yeah i'm not so it's just as i understand those people used to hack into these
master card recently apple i was wondering are these people who are idea driven more dangerous just than just hackers at it for money it's a good question and. i my for i'm afraid they will be. more dangerous because they're much more of this people are many of them they're way to professional and sometimes what the books where the guys do for my knees are less dangerous than this dude just for fun or like protest and use even more dangerous because they are getting more experienced and the. take over but the use of new ways to. stop internet services to damage their infrastructure. i am a free. the will be the. police is for terrorists to
employ these forces i am afraid that in the future of cyber terrorism. will. could that will force them. you know other ways to design and to manage cyber terrorism attacks so i'm already is huge i'm afraid it's going to huge because we depend on rights you could depend on computers networks everything their own it's just a computer. in cars you know planes in industrial in the wider months in the probation everywhere and unfortunately not everything that works is designed in a secure ways unfortunately it's possible. that these systems in different ways so all i'm afraid were not very dangerous world which is superman or dangerous in the west i'm afraid that's going to be serious and that's bad news
the good news he needs the governments for and they understood that and i see that with the a lot of attention to the problem and i see that you scully the year these questions and the even start to do. a good theory on that informational level the frame here for full lives so the only way to respond to a threat on that scale is with copper rating with governments exactly exactly because that's what's the problem he's informational because the internet doesn't have borders and the money issues courts all separate the process the missional board this was a speed of the incumbent so the only way to disturb that the only way to make this world more secure more safe is informational copulation and what they see i see are more and more reports of both. informational international meetings or
news ations all projects that's a good news but the other side of the coin when it comes to government corporation with hackers or people who are creating. are fighting where is this is that last year for example experts concluded that a virus called sex not it was used to attack and destabilized plant in iran it was actually produced with state support for example israel could be united states. or cyber wars between nations like reality already and we don't know about that we have just one incident and or have this information from i personally have this information from two sources first of all first of all the money should support the virus itself and from the us because so the secret services or nuclear power plants people they don't report me so then from the court you see that these this is a very complicated a very sophisticated the money is yours. that's
a very big project there was i think there was a group of high end experts to design that your business directly depends on cyber crime if one day cyber crime is completely eliminated would that put you out of business. well that's my year. but that's a very big dream. to have a big i read about the story cybercrime and the free will have. these but i will present. but i don't operate about the business i think that will find something else. another job or another industry. maybe a different project. still i still want to work. thank you very much for this and to thank our. guests.
find out what's really happening to the global economy cause report. and bring you the top news and headlines from around the world this is our team i'm sean thomas let's take a look at your top headlines rupert murdoch agrees to face a grilling by the u.k. parliament over phone hacking allegations while in the u.s. and the f.b.i. begins its investigation into claims. journalists tried to access the voice mail of the nine eleven families. a credit downgrade hangs over the u.s. has it leading that rating agencies threaten to knock the glitter off the country's aaa position as the eurozone continues its slide with italy introducing a tough spending cuts brussels is concerned that it couldn't afford to bail out
italy which is on the forced fourth largest economy in europe. heavy lifting equipment arrives at the scene. the pleasure ship sinking on the river as prosecutors make the first arrests over the tragedy that has claimed more than one hundred lives divers continue to retrieve bodies from the sunken ship including that of the captain. we have more on the eurozone debt crisis on our debate show which is coming up next peter lavelle asks his guests of italy's economy will be the next country to need a financial rescue package from brussels and if so who will foot the bill.
hello and welcome to cross talk i'm peter lavelle a currency in crisis european finance ministers central bankers and politicians remain at odds on how to rescue the euro as pressure mounts for another greek bailout and investors worry about italy is the euro a dysfunctional currency and who will ultimately foot the bill. and. crossed out the eurozone crisis i'm joined by dennis gartman in virginia he is editor of the garment letter in singapore we go to jim rogers he's an author and financial commentator and in washington we go to shows i dream and she is professor of international business finance and international affairs at the george washington university all right folks this is cross talk to me and you can jump in anytime you want there are different points of view here like to hear.